Ackman’s Pershing Square suffers hit as Herbalife rallies

In its first set of financial results since it floated on the London Stock Exchange in May, the investor's US-focused fund, Pershing Square Holdings, reported that it had lost 1.7 per cent in the year-to-date. The value of Pershing Square's position in Herbalife fell by 2.9 per cent, making the business the fund's worst-performing holding. In the year to August 15, the value of Pershing Square's position in ADP rose by 1.4 per cent. A long position in global food giant Mondelez International declined by 2.2 per cent after the maker of Oreo Cookies and Cadbury chocolates reported a decline in quarterly sales and was hit by a global cyber attack in late June that affected a range of multinational companies. Shares in Pershing Square fell 1.1 per cent to £10.87p on Friday.